Docs/Legal

Legal FAQ

Legal Due Diligence Safety Edition

Comprehensive legal Q&A for legal departments, covering classification, contracts, privacy, compliance, and risk

Back to Library

A. Legal Classification (1-20)

Legal FAQ

Legal Due Diligence Safety Edition

A. Legal Classification (1-20)

B. Contracts & Liability Boundaries (21-40)

C. Data & Privacy (41-55)

D. Regulatory Compliance & Supervision (56-75)

E. Incident & Risk (76-90)

F. Summary (91-100)

Legal FAQ

Legal Due Diligence Safety Edition

A. Legal Classification (1-20)

1.What is Lendler's legal classification?

2.Does it qualify as a money transfer business?

3.Crypto asset exchange business?

4.Remittance business?

5.Difference from payment processors?

6.Any "financial activities" under law?

7.Is Lendler a "transaction principal"?

8.What contracts involve Lendler as a party?

9.Who owns legal effect of transactions?

10.What legal obligations does Lendler bear?

11.Subject to FSA supervision?

12.Overseas license required?

13.Does it violate GDPR or privacy laws?

14.Why does it not violate any laws?

15.Do companies become regulated by using Lendler?

16.Certified as "service provider"?

17.Who bears legal risk?

18.Can legal incidents occur from Lendler?

19.Most important legal boundary?

20.Relationship with regulators?

B. Contracts & Liability Boundaries (21-40)

21.Contract type with banks?

22.Scope of contractual responsibility?

23.Liability for financial losses?

24.Responsibility for fund outflows?

25.Boundary points to specify in contract?

26.Does Lendler replace bank obligations?

27.Legal risk in commercial use?

28.Risk when service stops?

29.Liability allocation in disputes?

30.Risk of third-party claims against Lendler?

31.Contract termination conditions?

32.Responsibility for bank system failures?

33.Legal incident from API call failures?

34.Can Lendler cause transfer errors?

35.Standard SLA?

36.Execution responsibility?

37.Cases where Lendler manages assets?

38.Who handles anti-social forces checks?

39.High legal risk areas?

40.Fund impact from bugs?

C. Data & Privacy (41-55)

41.Does Lendler handle personal data?

42.Subject to GDPR?

43.Subject to CCPA?

44.KYC information held?

45.Legal risk from data breaches?

46.Access to bank customer information?

47.Personal info in monitoring data?

48.Does Lendler become data controller?

49.Do logs create legal risk?

50.Data retention period?

51.Subject to DSAR requests?

52.Encryption standards?

53.Possibility of selling data to third parties?

54.Data sovereignty issues?

55.Data center jurisdiction impact?

D. Regulatory Compliance & Supervision (56-75)

56.FSA supervision subject?

57.Audit firm check subject?

58.AML/CFT principal?

59.Travel Rule subject?

60.MiCA subject?

61.US SEC subject?

62.CFTC subject?

63.MAS (Singapore) regulation subject?

64.HKMA supervision?

65.EU AMLA subject?

66.Risk legal department should verify?

67.Institutional registration needed?

68.Audit materials?

69.Probability of legal incidents?

70.Key legal defense point?

71.Market participant classification?

72.Regulatory avoidance?

73.Regulatory hearing needed?

74.Legal burden for overseas expansion?